A UC Davis study finds that it pays to be green, as companies that are open about their greenhouse gas emissions and carbon reduction strategies see stock values rise. Graduate School of Management Professor Paul Griffin and his co-author, Yuan Sun of UC Berkeley, tracked stock prices of firms around the time these companies voluntarily issued press releases disclosing carbon emission information. In the days after the press releases were issued, the companies saw their stock prices increase significantly, Griffin and Sun found. “When a company makes a voluntary disclosure of this kind, it signals to the investment community that this is a firm that is environmentally responsible,” Griffin said. “Investors are saying they would prefer to invest in an environmentally responsible firm.” The study, “Going Green: Market Reaction to CSR Newswire Releases,” uses the archives of ...